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This theory describes the relationship between the availability of a product or service and the desire of buyers for it, considered as factors regulating its price. For entrepreneurs, understanding this can help with pricing strategies and market entry decisions.

This concept represents the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. Entrepreneurs use this to weigh the profitability and benefits of their business decisions.

This theory explains the cost advantages that enterprises obtain due to the scale of operation, with cost per unit of output decreasing with increasing scale. Entrepreneurs can aim for this to reduce costs and increase competitiveness.

This principle suggests that a firm or a country can produce a good or service at a lower opportunity cost than others. Entrepreneurs can focus on products or services where they have an edge over competitors.

Coined by Clayton Christensen, this theory refers to an innovation that creates a new market and value network, eventually disrupting existing markets and displacing established market-leading firms. Entrepreneurs can use this to enter and compete in new markets.

Developed by Eric Ries, it's a methodology for developing businesses and products by shortening product development cycles and rapidly discovering if a proposed business model is viable. Entrepreneurs use this to efficiently test and develop their business models.

This framework for analyzing a business's competitive environment focuses on five forces: competitive rivalry, bargaining power of suppliers, bargaining power of buyers, threat of new entrants, and threat of substitute products. Entrepreneurs use it to strategize and understand their position in the industry.

This strategy suggests that businesses can succeed not by battling competitors, but rather by creating a 'blue ocean' of uncontested market space. Entrepreneurs can focus on creating new demand and making the competition irrelevant.

A motivational theory in psychology comprising a five-tier model of human needs, often depicted as hierarchical levels within a pyramid. Entrepreneurs can tailor their products and marketing strategies to address these fundamental human needs.

Popularized by Chris Anderson, it's a strategy that allows companies to realize significant profits by selling low volumes of hard-to-find items to many customers. Entrepreneurs can leverage this by offering a wide range of niche products.

This theory suggests that a company can target different market segments with a specific product or service tailored to each segment. Entrepreneurs use this to cater to different consumer needs and increase market share.

A systematic approach to estimating the strengths and weaknesses of alternatives used to determine the options that provide the best approach to achieve benefits while preserving savings. This is essential for entrepreneurs to make informed financial decisions.

Introduced by Eliyahu M. Goldratt, this methodology seeks to identify the most important limiting factor (constraint) that stands in the way of achieving a goal and systematically improve it. Entrepreneurs can optimize their processes by applying this theory.

A strategic planning technique used to help organizations identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. It is a foundational assessment for entrepreneurs to craft strategies.

It's the theory that production costs decline over time as a company gains experience in production processes. Entrepreneurs can analyze their cost structure over time to find efficiencies and competitive advantages.

Describes how a product or service gains additional value as more people use it. Entrepreneurs creating platforms or marketplaces can leverage this to create barriers to entry and secure market dominance.

Proposed by Adam Smith, it describes the unintended social benefits resulting from individual actions. Entrepreneurs act in their self-interest but may also contribute to the effective functioning and wealth of the society.

An observation made by Gordon Moore that the number of transistors on a microchip doubles about every two years, though the cost of computers is halved. Entrepreneurs in tech should plan for rapid innovation and decreasing costs.

Part of the Lean Startup methodology that refers to the product with the highest return on investment versus risk. Entrepreneurs use it to test their business hypotheses with minimal resources.

Also known as the 80/20 rule, the principle states that roughly 80% of the effects come from 20% of the causes. Entrepreneurs leverage this to focus on the most important tasks or customer segments that yield the highest return.

It distinguishes between motivators (which can encourage job satisfaction) and hygiene factors (which can cause dissatisfaction if not present but do not actually motivate if increased). Entrepreneurs need to understand this to manage and motivate their teams more effectively.

It's the condition where a market is at a state where the quantity supplied equals the quantity demanded, establishing the price of the good or service. Understanding this helps entrepreneurs to anticipate market dynamics and set prices.

A strategic planning tool used to help firms decide their product and market growth strategy by analyzing existing and potential products with existing and potential markets. Entrepreneurs use this for product diversification and market penetration strategies.

CLV is the prediction of the net profit attributed to the entire future relationship with a customer. Entrepreneurs assess this to determine how much they are willing to spend to acquire a customer and the level of service to provide.